In 2011, the long-term care industry paid $6.6 billion in claim benefits to more than 200,000 individuals, according to the “2012 Long Term Care Insurance Sourcebook.”
Yet long-term care insurance decisions are not being made only by the elderly, according to a new report. A study conducted by the American Association for Long-Term Care Insurance notes that the youngest claimant was 24 years old when he began receiving benefit payments from his long-term care insurance policy. Now in his seventh year of receiving payments, the coverage was purchased when the claimant was 21 years old.
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